European stocks declined this morning as investor anxiety that the UK will leave the Ruropean Union deepened. ESTX 50 (-0.85%), CAC 40 (-0.83%), Dax (-0.95%) and the UK markets (-0.29%) all posted losses in early trading. BMW AG fell -1.6% after its sales chief told Automobilwoche that the US market will stagnate at best in 2016. Siemens retreated -1.3% after CEO Joe Kaeser said his company isn’t bidding for Kuka AG. G4S Plc declined -5.1% after confirming that the man suspected of killing 50 people and wounding 53 others in a mass shooting yesterday in Florida was an employee since 2007.
US stocks dropped following another drop in oil prices and renewed worries about the global economy. The Dow Jones Industrial Average (-0.67%), S&P 500 (-0.92%) and Nasdaq Composite (-1.29%) all retreated. Investors are bracing themselves for the next Federal Reserve meeting, though the US central bank is expected to leave rates unchanged. ConocoPhillips dropped -4.4% and Schlumberger declined -1.8% as US crude retreated -2.9%. Intel gained +0.3% after Bloomberg reported that the company would replace Qualcomm as an Apple supplier for some iPhones. Qualcomm was down -2.1%. Consumer stocks fell, with some of the sharpest losses going to big names. Netflix slid -3.4% and Amazon declined -1.3%.
Asian stocks declined as uncertainty ahead of central bank meetings and a vote on the UK leaving the European Union sent investors seeking safety. The S&P/ASX 200 (-0.92%), Hang Seng (-2.52%) and the Nikkei 225 (-3.51%) all dropped. Inpex Corp declined -4.9% as crude fell after a number of rigs drilling for oil in the US rose for a second week. Electric appliance makers and car manufacturers were among the biggest drags in Japan. Hitachi Ltd fell -4.7% and Mazda Motor Corp sank -5.3%.
Morning Spread 8th March 2017 European shares traded flat this morning, the modest moves masking significant results driven games by several companies on a bust day for European earnings.
Morning Spread 2nd November 2016 Asian stocks followed global equities lower despite gauges of manufacturing in China topping estimates and the Bank of Japan maintained its record stimulus program.
Morning Spread 1st November 2016 Asian stocks were mixed as declines in oil prices dragged energy shares lower and investor anxiety grew over next week’s US presidential election.
Morning Spread 28th October 2016 Asian stocks fell as oil explorers pushed down Hong Kong gauges, while investors digested earnings from several companies.
Morning Spread 27th October 2016 US stocks were mixed following the release of earnings from several companies.
Morning Spread 24th October 2016 US stocks were little changed as a record day for Microsoft and earnings from McDonald’s helped offset a fall in energy and healthcare shares.
Morning Spread 19th October 2016 Asian shares rose as a barrage of Chinese data confirmed the economy had stabilised on the back of government spending and a hot housing market, even if worries about debt continue to mount.
Morning Spread 10th October 2016 Asian stocks were mixed following the second US presidential debate between Hilary Clinton and Donald Trump.
Morning Spread 5th October 2016 Most Asian stocks outside Japan slid on concern central banks will reduce stimulus, while the Nikkei climbed after the yen weakened.
Morning Spread 27th September 2016 Asian stocks advanced with investors viewing Democratic candidate Hillary Clinton as having gotten the upper hand in the first US presidential debate.